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A BANK OF AMERICA executive stated that we hope working Americans will lose leverage in the labor market in a recent private memo obtained by The Intercept. Making predictions for clients about the U.S. economy over the next several years, the memo also noted that changes in the percentage of Americans seeking jobs should help push up the unemployment rate. The memo, a Mid-year review from June 17, was written by Ethan Harris, the head of global economics research for the corporations investment banking arm, Bank of America Securities. Its specific aspiration: By the end of next year, we hope the ratio of job openings to unemployed is down to the more normal highs of the last business cycle.
What the memo calls the ratio of job openings to unemployed is generally calculated the other way around i.e., the ratio of unemployed people to job openings. The more widely used ratio offers one measurement of the balance of power between workers and employers. The lower this number, the more options unemployed people have when searching for work and the greater opportunities employed people have to switch to jobs with better pay and conditions. According to the Bureau of Labor Statistics, this ratio stood at 0.5 as of May, meaning that there were then two job openings per unemployed person.
In 2009 at the worst moments of the economic calamity that followed the collapse of the housing bubble during the end of the George W. Bush administration the ratio climbed as high as 6.5, so there were more than six unemployed workers for each open job. It then slowly declined over the next decade, reaching 0.8 in February 2020 before Covid-19 lockdowns began
The memo is an uncanny demonstration that the economist Adam Smith was right when he described the politics of inflation in his famed 1776 work, The Wealth of Nations.. High profits tend much more to raise the price of work than high wages, Smith argued. Our merchants and master-manufacturers complain much of the bad effects of high wages in raising the price. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people. Thus, exactly as Smith would have predicted, Bank of America complains loudly about the bad effects of high wages in raising prices, but appears to be silent about the pernicious effects of high profits.
And hes poised to fuck up the mail in ballot process in 3 months.
I remember management strategy meetings where wed do SWOT analysis to evaluate and prioritize strengths, weaknesses, opportunities and threats.
Dejoy is a glaring threat. The Postal Service as a target is a threat. With the success Republicans have had sabotaging the Postal Service it will remain a target for election interference.
I sure hope somebody who matters is doing something right now to come up with some long-term solutions to these threats because a LOT is at stake.
Nary a mention of Democrats.
Racisms ugliest cowardly acts against innocent children
Had a narcissistic boss who would befriend the most belligerent employees.
Just as the testimony says, people like that feel validation when higher ups seek them out and will do anything to return the favor.
As a testament to the relationship with the opposition that she formed, the union gave her a retirement partyan unheard of event.
Definition Of Mob Action--Unlawful Assembly
A person commits the offense of mob action when he  acting together with one or more persons and without authority of law [ (T knowingly) (intentionally) (recklessly) ] disturbs the public peace by the use of force or violence.
This is or should be a definite charge against all January 6 traitorous organizers.
Before the hearings end
Asking for a friend
Profile InformationMember since: Wed Feb 7, 2007, 10:48 PM
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